New Vein System Discovery At The Cat Hill, North Bullfrog Project

VANCOUVER - Corvus Gold Inc. has received assay results from follow up holes at the Cat Hill target, defining a new vein/stockwork gold system on the North Bullfrog property. Key results from the Cat Hill target (NB-19-487, 21.3m @ 1.02 g/t gold including 4.57 meters of 2.47 g/t gold), confirming a north-south trend for this shallow vein system related mineralization with improving grades along strike. In addition, the Company has received further positive stepout drill results from the western expansion of the Sierra Blanca deposit and the northern extension of the Jolly Jane deposit.

These latest Cat Hill assays along with previous results outline a system that is open in all directions and Corvus believes it may have potential to develop into another YellowJacket or Bullfrog vein/stockwork deposit.  The two higher grade intervals in hole NB-19-487 (3.1m @1.37 g/t gold & 4.5m @ 2.47 g/t gold) are associated with a similar stockwork quartz veining and high silver that was initially intercepted to the south in the first scout hole and is characteristic of the YellowJacket system.  Cat Hill lies along the main northwest, North Bullfrog Deposit trend which parallels the main regional scale, Walker Lane Structural Belt and links up with Corvus’ eastern target area and AngloGold’s new Silicon discovery.

The western extension of the Sierra Blanca Deposit (WSB) continues to grow and provide additional potential for the expansion of the Phase-1 North Bullfrog development plan.  Latest results highlight expanding mineralization to the southwest (NB-19-481, 13.7m @ 0.93 g/t gold) and the extension of a new higher-grade “NW Structural Target” in the northwest part of the WSB area (NB19-474, 6.1m @ 1.41 g/t gold). This extends earlier intercepts to the north and others outlining a zone at least 300 meters in length.  In addition, the depth potential of the main Sierra Blanca system was tested with hole NB-19-485 (24.4m @ 0.77 g/t gold) indicating additional depth potential below the current pit limits. 

The latest WSB results will be integrated into a new resource model for Sierra Blanca/YellowJacket and the Phase-1 mine plan scheduled to be released in 2020. 

Initial positive results that tested the large, North Jolly Jane target returned NB-19-476, 9.2m @ 0.50 g/t gold, 7.6m @ 0.68 g/t gold & 16.8m @ 0.51 g/t gold, where potential for a large new gold system is beginning to be outlined on what Corvus believes to be the scale of the Sierra Blanca deposit with internal potential for a high-grade vein system.  Two of the four holes drilled hit the targeted host horizons which intersected broad zones of gold mineralization in all three major host units. Unfortunately, two of the four holes were lost before hitting the target (NB-19-477 & 478).  These broad zones of mineralization along with earlier results, as previously detailed in the preliminary economic assessment, suggest the Jolly Jane system is large, with approximately 2 kilometers by 0.5 kilometers of drill defined mineralization and good potential for a high-grade feeder zone like that of the nearby Sierra Blanca/YellowJacket system. 

Jeffrey Pontius, President and CEO, said, “Cat Hill is Corvus’ latest new discovery of a new gold system outside of an existing deposit since the Mother Lode discovery in 2018. Ongoing results from the North Bullfrog part of the greater Bullfrog Gold District continue to highlight the potential of this large and growing Nevada gold district. Corvus is well positioned to develop the core of this emerging world-class gold district, which has now attracted the attention of three major mining companies.  Corvus will be expanding its drill programs with the intention of growing its large, mineral resource base, defining new discoveries and expanding the deep potential of the Mother Lode system.  This exploration push plays in concert with new discoveries by neighboring companies and increases the potential for future district consolidation.  Corvus shareholders are uniquely positioned to take advantage of the expanding Bullfrog District’s potential and its leverage as we move into what we believe may be the next bull gold market.”